Marking a radical departure from traditional book-publishing practices, HarperCollins Publishers says it will launch a new book imprint that won't accept returns from retailers or pay advances to authors.
To be headed by veteran publishing executive Robert S. Miller, the imprint also likely won't pay for more desirable display space in the front of bookstores, a common practice. Instead, the as-yet-unnamed unit will share its profit with writers and focus much of its sales efforts on the Internet, where a growing portion of book sales are shifting.
The new venture is aimed at improving the economics of book publishing!
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